The Dow Is The Most Overbought In Over 20 Years (And Options Traders Have Never Been More Bullish)

The Dow Jones Industrial Average has only been more overbought than it is today four times in the last one hundred years.


Having risen for 21 of the last 25 days, The Dow is the most overbought since 1996:


With Dow 20,000 one good algo ramp away, it is perhaps worth noting that the index - dominated by Goldman Sachs' performance - has been overbought for 22 straight days.


Meanwhile, options traders have never been more bullish on the S&P 500 as Credit Suisse shows (h/t @HayekAndKeynes):